Tax Law Update February 2013

  • Congress passes American Taxpayer Relief Act—Congress passed the American Taxpayer Relief Act (the Act) on Jan. 1, 2013, technically after the nation had already gone over the “fiscal cliff.” The Act repeals the sunset provisions of the 2001 and 2010 Tax Acts and, therefore, makes permanent, with some modifications, many of the estate tax provisions that have been in effect for the last decade. The Act didn’t address other estate-planning hot topics ...